Pity more companies don't understand property rights
LOL can I please nominate you for quote of the day
A team of more than 30 Synlait staff were engaged to complete the comprehensive B Impact Assessment™. The process took more than a year
This is going to look like the most epic waste of resource ever if they lose their Supreme court case. Talk about fiddling while Rome burns !
Synlait’s strategic decision to elevate people and planet to the same level as profit has been recognised. The team is excited to announce Synlait is now a Certified B Corporation™ (B Corp™).
Did the directors seek a mandate from the majority of shareholders to completely reinvent the purpose of the company ? Again this looks like head office arrogance and a gross breech of corporate governance on a bewildering scale. I am extremely pleased I am not a shareholder and extremely unlikely to ever be one in the future.
Last edited by Beagle; 29-06-2020 at 09:15 PM.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
cheers Beagle
I noted in the blurb on becoming certified B that Danone commented on Synlait Product. So its good Synlait have a constructive relationship with another large retailer so as to keep A2M honest and add resilience.
I drove past Dunsdanel on my recent trip aroun Sth Is.
Pity more companies don’t believe people and planet are just as important as profit (maybe even more)
If you're going to completely reinvent the very reason and core objective for a companies very existence then the absolute least they could do is seek approval for this change by special resolution, i.e. approval by 75% of shareholders.
Unfortunately we're talking about Synlait here who seem to make up their own rules about the entire relevance of the capitalist system as they go along with barely a single thought or concern for how it might impact shareholders. Someone is long overdue to give this companies board a very big reality check....and I suspect that someone is the supreme court judges. I suppose that still leaves them an appeal to the Green party for a breech of the planets rights
Last edited by Beagle; 29-06-2020 at 10:40 PM.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Reserved decision. We will get a written decision from the Supreme Court in due course and for anyone who is unhappy with it that's tough, there is no further right to appeal.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Down 4.6% today. I can't help but think it's a reaction to ATM's results which, while still solid, weren't in line with expectations for a company with a PE of 46 and saw it's shareprice drop 5.3%. SML's PE is only 17. I understand they have different business models, but I still think SML should be trading closer to $9.
Originally Posted by winner69
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